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Question 14 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021
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Table of Contents
Prepare a comparative Income Statement from the following information:
| Particulars |
2021 | 2022 |
| Gross profit | 1,20,200 | 1,35,800 |
| Sales return | 5,200 | 3,800 |
| Cost of goods sold | 80,000 | 84,000 |
| Operating expenses | 12,000 | 9,000 |
| Income tax | 50% | 50% |
The solution of Question 14 Chapter 6 – Unimax Publication Class 12 Part 2-2021 : –
Comparative Income Statement
| Particulars |
note no |
2021 A |
2022 B |
Absolute change B-A =C |
Percentage change C/A |
| Revenue form operations | 2,00,200 | 2,19,800 | 19,600 | 9.79 | |
| Add other income | – | – | – | – | |
| Total Revenue | 2,00,200 | 2,19,800 | 19,600 | 9.79 | |
| Less expenses: | |||||
| Cost of goods sold | 80,000 | 84,000 | 4,000 | 5.0 | |
| Operating expenses | 12,000 | 9,000 | (3,000) | (25.0) | |
| Total expenses | 92,000 | 93,000 | 1,000 | 1.09 | |
| Net Profit before tax | 1,08,2000 | 1,26,800 | 18,600 | 17.19 | |
| Less income tax | 54,100 | 63,400 | 9,300 | 17.19 | |
| Net Profit after tax | 54,100 | 63,400 | 9,300 | 17.19 |
Working note:
| Gross profit | = Net sale – Cost of goods sold |
| Net sales | = Gross profit + Cost of goods sold |
| Net sales (2021) | = 1,20,200 +80,000 = 2,00,200 |
| Net sales (2022) | = 1,35,800 + 84,000 = 2,19,800 |
Note: (Net sale = sales – sales return)
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Comparative Statements – Balance Sheet & Profit and Loss
Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit sharing ratio among Existing Partners )
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2023@ Official Website of Sultan Chand Publication
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